XML 25 R15.htm IDEA: XBRL DOCUMENT
v3.22.2

Other Investment Securities | 6 Months Ended
--- | ---
Jun. 30, 2022
Other Investment Securities [Abstract] |
Other Investment Securities, | Other Investment Securities Other investment securities consist of restricted stock investments in the FHLB, the FRB, and equity securities. The restricted FHLB and FRB stock investments are carried at their redemption value. Equity securities with a readily determinable fair value are carried at fair value. Equity securities without a readily determinable fair value are recorded at cost, minus impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions ("modified cost"). Park's portfolio of equity investments in limited partnerships which provide mezzanine funding ("Partnership Investments") are valued using the NAV practical expedient in accordance with ASC 820. The carrying amounts of other investment securities at June 30, 2022 and December 31, 2021 were as follows:
(In thousands) |  | June 30, 2022 |  | December 31, 2021
FHLB stock |  | $ | 13,413 |  |  | $ | 13,413 |
FRB stock |  | 14,653 |  |  | 14,653 |
Equity investments carried at fair value |  | 1,785 |  |  | 2,129 |
Equity investments carried at modified cost (1) |  | 8,191 |  |  | 4,689 |
Equity investments carried at NAV |  | 43,579 |  |  | 26,384 |
Total other investment securities |  | $ | 81,621 |  |  | $ | 61,268 |
(1) There have been no impairments or downward adjustments made to equity investments carried at modified cost. An upward adjustment of $871,000 was recorded in the three months and six months ended June 30, 2022 as a result of observable price changes. No shares of FHLB stock were repurchased during the three months or six months ended June 30, 2022. During the three months ended June 30, 2021, the FHLB repurchased 22,651 shares of FHLB stock with a book value of $2.3 million. During the six months ended June 30, 2021, the FHLB repurchased 65,484 shares of FHLB stock with a book value of $6.5 million. No shares of FRB stock were purchased or sold during the three months or six months ended June 30, 2022 or 2021. During the three months ended June 30, 2022 and 2021, $619,000 and $(39,000), respectively, of gains (losses) on equity investments carried at fair value or modified cost were recorded within "Gain on equity securities, net" on the Consolidated Condensed Statements of Income. During the six months ended June 30, 2022 and 2021, $527,000 and $396,000, respectively, of gains on equity investments carried at fair value or modified cost were recorded within "Gain on equity securities, net" on the Consolidated Condensed Statements of Income. During the three months ended June 30, 2022 and 2021, $90,000 and $506,000, respectively, of gains on equity investments carried at NAV were recorded within “Gain on equity securities, net” on the Consolidated Condensed Statements of Income. During the six months ended June 30, 2022 and 2021, $2.5 million and $1.9 million, respectively, of gains on equity investments carried at NAV were recorded within “Gain on equity securities, net” on the Consolidated Condensed Statements of Income.

X
- Definition Other Investment Securities + References No definition available. + Details
Name: | prk_OtherInvestmentSecurities
Namespace Prefix: | prk_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Other Investment Securities + References No definition available. + Details
Name: | prk_OtherInvestmentSecuritiesAbstract
Namespace Prefix: | prk_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration